Hollywood strike ends after 118 days! Studios make tentative deal with actors

The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strike had shaken the entertainment industry.

After 118 days on strike, SAG-AFTRA has officially reached a tentative agreement on a new three-year contract with studios, reports The Hollywood Reporter.

Hollywood actors reached a tentative deal with major studios to resolve the second of two strikes this year as workers demanded higher pay. The association had declared a strike primarily due to poor working conditions and low wages.

SAG-AFTRA STRIKE ENDS

The SAG-AFTRA TV/Theatrical Committee approved the agreement in a unanimous vote on November 8. The strike ended at 12:01 am on Thursday, November 9. On Friday, November 10, the deal will go to the union’s national board for approval. According to Reuters, the negotiators had reached a preliminary deal on a new contract with the Alliance of Motion Picture and Television Producers (AMPTP). It represents Walt Disney, Netflix and other media companies.

This new decision means that Hollywood can finally get back to full production for the first time since May. According to The Hollywood Reporter, the union is still providing some details of the agreement, more of which will likely emerge in the next few days.

WHAT DOES THE TENTATIVE DEAL INCLUDE?

In a message to the members, the union said the pact is valued at over $1 billion. It includes pay increases, a “streaming participation bonus” and regulations on AI. The tentative deal also includes higher caps on health and pension funds, compensation for background performers and “critical contract provisions protecting diverse communities.”

In a statement on Wednesday night, the AMPTP said, “Today’s tentative agreement represents a new paradigm. It gives SAG-AFTRA the biggest contract-on-contract gains in the history of the union, including the largest increase in minimum wages in the last forty years; a brand new residual for streaming programs; extensive consent and compensation protection on the use of artificial intelligence; and sizable contract increases on items across the board. The AMPTP is pleased to have reached a tentative agreement and looks forward to the industry resuming the work of telling great stories.”

SAG-AFTRA and the AMPTP failed to reach an agreement on July 12 this year as a result of which an indefinite strike was declared. The impact was immediately felt, as it was reported that Oppenheimer stars Cillian Murphy, Emily Blunt and Florence Pugh left the red carpet in support of the guild’s decision.